Mobile phone software applications have become increasingly popular in our society through the use of web-based and mobile technologies. There are numerous software applications available on every smart phone platform for work and fun, from the financial to the recreational, including, more specifically, applications directed to both the financial industry and on-line shopping and purchases. Given the fact that more and more people are willing to conduct commerce over their mobile phone, the market for mobile phone financial transactions is taking off.
Currently, certain mobile phone software applications allow customers, who have either linked a bank account, debit card, credit card, credit line, prepaid debit card, gift card, or payment service such as PayPal, to make purchases within a mobile application or website. For example, applications exist that allow mobile users to transfer funds or make payments via their handset by entering in mobile telephone numbers. Taking mobile phone purchases a step further, certain providers/platforms have adopted a “Bill-To-Carrier” model whereby purchases made are billed to the users' mobile phone account and then billed to the user by the carrier. Significantly, under such a model, links to credit cards or bank accounts are not required.
So, against that backdrop, a need currently exists for a mobile phone application that utilizes a bill-to-carrier model for providing a mobile phone user with cash or a cash equivalent such as a refund, cash rebate, remittance, and/or other monies.